The final joint has been welded in a new high-speed rail line between Paris and Germany as France celebrates the 25th anniversary of a train that has "shrunk the map and transformed the life of the country." (links below.)
http://www.rmtbristol.org.uk/2006/09/train_that_changed_a_nation_ce.html#more
http://www.rmtbristol.org.uk/2006/09/after_25_years_how_the_tgv_rei.html#more

Quotes from the above :

"But Britain may ask whether it is getting value for money by standing aside from Europe's railway revolution. The French eastern high-speed line from Paris, opening to Metz next June (eventually continuing to Strasbourg and Germany) will cost €3.5bn (£2.35bn) for 300km. It is forecast that Britain's west coast upgrade will cost at least £7.6bn (or €11.2bn) for 1,000km, including loops and branches to Birmingham, Manchester and Liverpool."

"So the cost per route kilometre is about the same. The French are getting a brand-new railway for €11.6m per kilometre. We are getting an upgraded old railway for €11.2m per kilometre."

"Britain's west coast main line will have been promoted from a 100mph railway to a 125mph railway, compared to the 140mph originally promised."

"The new French line, or TGV-Est, will have a line speed of 200mph, somewhat higher than France's three, existing highspeed lines to south, to the north and to the west. The French railways began tests this week on the possibility of bringing all their high-speed lines up to 360kph (225mph)."

"On which side of the Channel is the state-driven economic folly?"

My view is that a note of caution is called for here. The regional and local ines of France have paid (and will continue to pay) a high price for TGV / high speed line expansion (link below.)
http://www.savethetrain.org.uk/forum/index.php?topic=446.msg1314#msg1314